Question

Find The compound interest With principal Rs.6 000 and the rate 10% per annum with time 2years 3months compounded annually

Answer 1

First year

given

Principal=6000

Rate= 10% per an.

Time= 1 year

Interest= (P*R*T)/100

= (6000*10*1)/100

= 600

Amount = P+I

= 6600

Second year

Principal = 6600

Rate =10%

Time= 1 year

Interest= (6600*10*1)/100

= 660

Amount= 7260

Third Year

Principal=7260

Rate=10%

Time = 3months or 1/4 year

I = (7260*10*1)/100*4

= 181.5

Amount = 7441.5

C.I =( 600+660+181.5)

= 1441.5